Prime Minister's Questions and G8 statement report

At Prime Minister's Questions today, David Cameron answered questions on issues including the Banking Commission report, the economy and unemployment, and there was an additional time slot for questions on the outcomes of the G8 summit.

On the results of the Banking Commission report, Cameron gave his support to both bonus deferrals and criminal penalties, and confirmed he will be amending the banking bill currently going through parliament to enforce the changes as quickly as possible. Miliband countered, pointing out that the coalition was yet to implement the recommendations of the last report to give regulators the power to break up banks into investment and retail arms.

The Prime Minister was also taken to task on the high incidence of child poverty in the UK, particularly within working families. He maintained that increasing employment is the best way out of poverty, and said the party will continue child benefits and tax credits for families.

Labour MP Hazel Blears sought clarification on the use of unpaid interns and whether HMRC would be clamping down further. Cameron noted a balance had to be struck between valuable short-term unpaid work experience and the use of unpaid interns in place of paid staff.

There were the usual attempts at point scoring, with Cameron pointing out that renowned historian and Labour MP Tristram Hunt who teaches at his local comprehensive school would be banned under the opposition party's proposals to remove untrained teachers, and Miliband's accusation that bankers' bonuses were up 64 per cent.

There is also an ongoing statement from Cameron and Q&A on the G8 summit in Northern Ireland that concluded yesterday. Miliband gave his support to the EU-US free trade deal, and asked Cameron if this development made it more important to stay in the EU. He responded simply that being in the single market is a benefit. He added that he was "disappointed" a similar agreement was not made with Canada.

On the tax agreement, the Labour leader wondered what had blocked the implementation of public registries of beneficial ownership everywhere. The Prime Minister's response was that, as a relatively new concept, it was difficult to get a universal agreement on the use of central registries, but pledged to keep pushing. He added that there would be a consultation over whether or not to make the UK registry public.

Intervention is certainly not off the cards in Syria, although Cameron promised he would consult with the house before taking any major action. He said that the situation represented a "dramatically escalating humanitarian disaster", involving the "radicalisation of terrorists and extremists who will pose a direct threat to both the region and the world".

Despite their differences, he reported that the G8 leaders pledged an extra $1.5bn in humanitarian aid, and universally agreed that the UN should be given unrestricted access to the country in order to collect facts on the use of chemical weapons on either side of the conflict.

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